Digital First Media Properties Housing The Reporter in Lansdale, Times Herald in Norristown Hit the Market

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Seventy-one Digital First Media properties housing newspapers and commercial printing services – including The Reporter at 307 Derstine Ave. in Lansdale and The Times Herald at 410 Markley St. in Norristown – are now on the real estate market Tuesday. No newspapers are shutting down.

The properties are being sold by Twenty Lake Holdings of New York City through its broker, Praxis Commercial. According to its website, Twenty Lakes is a third-party real estate management firm to Digital First Media, MediaNews Group and 21st Century Media newspapers. The listings are owned by those three entities.

Digital First Media Regional Digital Manager Terry Casey tweeted about the sale Tuesday: “I'm not upset, BTW. These offices used to house HUGE presses. We don't need all of that space anymore. Buy away!”

The Reporter building, which sits on one acre at Derstine Avenue and Vine Street, owned by 307 Derstine Avenue LLC, has a gross leasable property of 27,362 square feet: 7,114 square feet of office space and the rest industrial. The interior of the two-story former firehouse was recently remodeled. Montgomery County land records assess the property at $656,000.

In 2011, the building that, since 1948, housed the Main Line Times at 311 E. Lancaster Ave., Ardmore, Lower Merion Township, was sold for $3.2 million, according to Montgomery County property records. According to a press release on the Twenty Lakes Holding website, Main Line Media News moved to a new headquarters at 110 Ardmore Ave.

“Because of the changes in our industry, we are investing in the way we deliver the news, while consolidating and re-evaluating other aspects of the business,” stated the release. “The truth is we are a much different operation than we used to be, and the sprawling building that now houses our editorial, advertising and circulation offices is simply too big for us.”

Some newspapers of the Journal Register Company chain, like The Reporter and Main Line Times, had their printing presses removed from their respective buildings, as all printing was handled by the offset in Exton, Chester County, per the 2011 release.

In 2013, the building housing Montgomery Media at 290 Commerce Drive in Upper Dublin Township was sold for $1.6 million by Journal Register East Inc. to 290 Commerce Drive LLC, and many editorial and operational activities moved to The Reporter building in Lansdale.

The Delaware County Delaware Times building at 500 Mildred Ave. went on the market in 2011.

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